Tick_Chart_+_Typical
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This tool is designed to provide a visual representation of real-time market activity by tracking and displaying critical price levels directly on your trading platform. Rather than looking at standard historical candles, this script focuses on the immediate relationship between the "Bid" (the price sellers are willing to accept) and the "Ask" (the price buyers are demanding), alongside a calculated average of the current market range.
Core Functionality
The primary logic of the script revolves around three main data points:
- Current Bid Price: The immediate selling price.
- Current Ask Price: The immediate buying price.
- Typical Price: A mathematical average calculated by combining the high, low, and closing prices of the current market movement.
How the Logic Works
-
Dynamic Range Tracking: The script maintains a continuous memory of these three price points over a specific period (defined by the user). It constantly monitors the highest and lowest values reached during this timeframe to understand the recent "boundaries" of the market.
-
Visual Boundary Analysis: One of the key features of this logic is its ability to identify when the current market price is hovering near its recent historical highs or lows. It checks if the current Bid price is approaching the maximum high or minimum low of the tracked period. If it enters these zones, the script identifies those boundaries visually.
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Real-Time Updates: The logic refreshes automatically. Every time the market moves (a "tick"), the script recalculates the position of these prices relative to the historical range. It ensures that the data displayed is always current, providing a fluid look at where the price sits in relation to the broader recent trend.
Summary for the Trader
Instead of just showing you a single line, this script paints a picture of the market's "active zone." It helps you see how far the current price has traveled from its recent extremes and highlights the spread between what buyers and sellers are doing right now, all while keeping the broader context of the period's highs and lows in view.
//+------------------------------------------------------------------+
//| Tick Chart + Typical.mq4 |
//| Copyright © 2005, MetaQuotes Software Corp. © 2010, J.Arent. |
//| http://www.metaquotes.net/, http://www.fxtools.info |
//+------------------------------------------------------------------+
#property copyright "Copyright © 2005, MetaQuotes Software Corp."
#property link "http://www.metaquotes.net"
#property indicator_separate_window
#property indicator_buffers 4
#property indicator_color1 Red
#property indicator_color2 Cornsilk
#property indicator_color3 Blue
#property indicator_color4 Gray
extern int period=2000;
extern int width=50;
//---- buffers
double ExtMapBuffer1[];
double ExtMapBuffer2[];
double ExtMapBuffer3[];
double ExtMapBuffer4[];
int tik,t;
double buf[],buf2[],buf3[],MaxB,MinB=1000;
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
//---- indicators
SetIndexStyle(0,DRAW_SECTION);
SetIndexBuffer(0,ExtMapBuffer1);
SetIndexStyle(1,DRAW_NONE);
SetIndexBuffer(1,ExtMapBuffer2);
SetIndexStyle(2,DRAW_SECTION);
SetIndexBuffer(2,ExtMapBuffer3);
SetIndexStyle(3,DRAW_SECTION,EMPTY,2);
SetIndexBuffer(3,ExtMapBuffer4);
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custor indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
//----
//----
return(0);
}
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
int i,b;
//----
t++;
b=period;
ArrayResize(buf,b);
ArrayResize(buf2,b);
ArrayResize(buf3,b);
if(tik==0)
{
for(i=0;i<b;i++)
{
buf[i]=Bid;
buf2[i]=Ask;
buf3[i]=(High[0]+Low[0]+Close[0])/3;
}
ExtMapBuffer2[0]=Bid+width*Point;
ExtMapBuffer2[1]=Bid-width*Point;
tik=1;
}
MaxB=0;MinB=1000;
for(i=b-1;i>0;i--)
{
buf[i]=buf[i-1];
if(MaxB<buf[i])MaxB=buf[i];
if(MinB>buf[i])MinB=buf[i];
buf2[i]=buf2[i-1];
if(MaxB<buf2[i])MaxB=buf2[i];
if(MinB>buf2[i])MinB=buf2[i];
buf3[i]=buf3[i-1];
if(MaxB<buf3[i])MaxB=buf3[i];
if(MinB>buf3[i])MinB=buf3[i];
}
buf[0]=Bid;
buf2[0]=Ask;
buf3[i]=(High[0]+Low[0]+Close[0])/3;
for(i=0;i<b;i++)
{
ExtMapBuffer1[i]=buf[i];
ExtMapBuffer3[i]=buf2[i];
ExtMapBuffer4[i]=buf3[i];
}
if(MathCeil(t/10)*10==t)
{
for(i=b;i<Bars;i++)
{
ExtMapBuffer1[i]=Bid;
ExtMapBuffer3[i]=Ask;
ExtMapBuffer4[i]=(High[0]+Low[0]+Close[0])/3;
}
ArrayInitialize(ExtMapBuffer2,Bid);
if(MaxB-Bid<width*Point)ExtMapBuffer2[0]=Bid+width*Point;
if(Bid-MinB<width*Point)ExtMapBuffer2[1]=Bid-width*Point;
//Print(MaxB,"+",Bid,"+",MinB);
}
//----
return(0);
}
//+------------------------------------------------------------------+
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